Are you having a difficult time making your mortgage payment? You aren’t the only one. Many people get to a point in their life where they can’t afford their mortgage. There is something you can do though, so don’t get too worried about it.
The first thing you can do when you can’t pay your mortgage payment is to call your lender. It might not be your proudest moment, but you’re being responsible. That way, they will know what is going on and why they won’t see a payment from you.
You can then determine how much, if anything, you can send in for a partial payment. Can you send in half, or maybe a quarter of the payment? That will help out the situation at least a little bit.
You might then be able to pay more mid way through the month to help pay the rest of the mortgage payment. If not, it may be best to work with your lender to see what the process is they have in place for individuals who cannot pay.
Not being able to afford your mortgage payment can be a devastating occurrence but it happens to nearly everyone at some point in life. It’s important as you get back on your feet to remember this time and plan for the future to have money set aside for emergencies so that you’ll have the money to pay your mortgage.
If you are in a situation in which you find you can no longer afford your mortgage payments, you might want to start thinking of selling your home. You may have some luck in selling and buying a home that has a lower mortgage payment that will help you breathe easier each month.